The sell-off shows no sign of stopping. America’s S&P 500 index dropped by another 3% on March 10th, leaving the world’s most-watched stock market down by almost 9% since its peak last month. The NASDAQ, dominated by tech firms, has fallen by 13%.
This is not the bold new era of American growth that Donald Trump had in mind. Overturning three decades of American policy will not be painless. The prospect of peace is reshaping markets in ways both ominous and promising.
Markets plunge amid policy uncertainty
“Economic nationalism,” our predecessors wrote, “is almost an American invention.” For decades, officials have promised to raise economic growth and for decades, they have failed to deliver. Even his concessions are less generous than expected.
Will the president win back investors? Does he even want to? The landscape of American economics is more uncertain than it has been in years, with investors jittery and markets reacting violently to political maneuvers.
While the future trajectory remains unclear, the immediate impacts are profoundly unsettling.
